Samantha Ginther

Indiana’s startup ecosystem hit a major milestone in 2024:  $1.05 billion invested across 166 deals—one of the highest total deal values in state history. While this marks significant progress, the U.S. fundraising environment continued to face challenges, with deal volume down 23% from 2023. For deeper insights, check out our full 2024 VC Report. 

As 2025 began, there was a sense of cautious optimism. The IPO window appeared to be cracking open, and AI was unlocking new efficiencies and scale across sectors, claiming 46.4% of all VC deal value in 2024. But as the year unfolds, recent tariffs and cuts to grant funding have added pressure to an already challenging environment, straining both startups and enterprise innovators. While the future remains uncertain, it’s clear that 2025 will demand continued adaptability and resilience from early-stage companies. 

At TechPoint, we believe our best work happens when we come together. That’s why we’re committed to bringing investors and startups together through our Venture Connect events—held twice a year to create meaningful connections that lead to real opportunities. 

Our first event of 2025 took place virtually on April 17. We convened 25 venture capital firms from across the country and 56 Indiana-based startups for 135 one-on-one meetings. Huge kudos to Mary Dougherty, our Innovation Program Manager, for orchestrating this impactful event! 

What We’re Hearing from the Market 

From conversations during the event and across the ecosystem, here’s what both sides are prioritizing right now: 

What VCs are looking for: 

  1. Capital efficiency – It remains a core theme. Investors want to see how startups are leveraging AI both in their product and operations to stretch resources and extend runway. 
  1. Talent magnetism – The ability to attract and retain top-tier talent is a key indicator of long-term viability. Before companies are ready to grow a team, showing engagement from high quality advisors can help paint this picture for investors. If well-respected industry experts are willing to spend time helping your company, it’s good validation you’re on the right track.  
  1. Real-world impact – There’s growing interest in startups solving tangible, industry-specific problems—especially in sectors like agtech, advanced manufacturing, logistics, and healthcare, where Indiana has clear advantages. 

What startups are seeking in VCs: 

  1. Speed – A quick “yes” or “no” is always appreciated. Founders want to move fast and avoid investing their own time and energy into a dead-end diligence process.  
  1. Strategic value – In today’s macroeconomic climate, capital alone isn’t enough. Startups are seeking VCs who offer introductions to customers, partners, advisors, and follow-on investors. 
  1. Follow-on clarity – With fewer predictable exit paths, startups value transparency around a VC’s approach to future rounds and long-term support.  

In an era of rapid change and evolving challenges, it’s the strength of our connections that will define our progress. At TechPoint, we’re proud to help fuel Indiana’s innovation economy by creating spaces where bold ideas and strategic capital meet. Together, we’re doing more than just navigating the future. We’re shaping it. 

Our next Venture Connect event is happening in person on September 18, 2025, in Indianapolis. If you’re a founder or investor looking to make high-impact connections, join the waitlist here.